Brazil's Petrobras studying voluntary layoff programme in Sao Paulo

SAO PAULO (Reuters) - Brazilian state-run oil company Petroleo Brasileiro SA said on Tuesday that it is studying a voluntary layoff programme at its administrative headquarters in Sao Paulo to cut costs.

Petrobras, as the company is known, said in a statement it did not have further details or a timeline for potential layoffs. The Sao Paulo unit of the company employs more than 400 workers, according to a local union.